Creating Business Agility

Chapter 9Cultivating Knowledge Ecosystems

Now, as you have come this far in reading the book, you may have realized that these major key technology drivers can help you transform your businesses rapidly and provide agility that was not possible a few years back. But the most important aspect of all these technology innovations is predictability of your business that drives key decisions and business wisdom to run and manage operations effectively. In the information age, when knowledge is power, it is extremely significant for businesses to cultivate the knowledge ecosystem for survival, sustenance, continued growth, and business agility. We have assessed and evaluated the role of collaborative power (Chapter 5) and the role of collective intelligence (Chapter 8). In this chapter, we endeavor to highlight key elements of building knowledge ecosystems and the knowledge management (KM) process that will help a business to harness power for continued growth and leadership.

In the fiercely competitive business environment, all companies are competing in a complex and challenging context that is being transformed by many factors such as globalization, hypercompetition, technological development, and virtualization. These new technological innovations have forced organizations to think and behave differently in order to survive and prosper. Today, we acknowledge that the foundation of organizational competitiveness has shifted from an emphasis on physical and tangible resources to ...